UMB Financial has reported that its earnings for the fourth quarter ended December 31, 2008 were $20.2 million, or $0.49 per diluted share, an increase of 32.2%, compared to fourth quarter 2007 earnings of $15.3 million, or $0.37 per diluted share.
Net interest income for the fourth quarter of 2008 increased 28.8% to $78.36 million, compared to $60.86 million for the same period in 2007. Net interest margin increased 12 basis points to 3.66% for the fourth quarter of 2008, compared to the same quarter in 2007.
Earnings for the year ended December 31, 2008 were $98.1 million, or $2.38 per diluted share, an increase of 32.2%, compared to $74.2 million, or $1.77 per diluted share, for the year ended December 31, 2007.
Net interest income for the year 2008 increased 18.2% to $275.05 million, compared to $232.68 million in 2007. Net interest margin increased to 3.60% for the year 2008 as compared to 3.44% for the year 2007.
As of December 31, 2008, total assets of the company were $10.98 billion, compared to $9.34 billion reported as of December 31, 2007. Total liabilities as of December 31, 2008 were $10 billion, up from $8.45 billion as of December 31, 2007.
